91原创 Island's largest private landowner has joined forces with a 91原创 developer in a partnership they hope establishes a new way of doing business.
Couverdon, a joint effort of TimberWest's real estate division and Rennie Marketing Systems, intends to throw the development focus on the needs of the Island's cities and towns and the best use of TimberWest's substantial land holdings, rather than dictating terms to Island communities.
"The idea is for this to become more than just us deciding what [development] should look like, but finding out what people think it should be from their experience and also what their needs are and what their future objectives are for that community," said John Hendry, vice-president of TimberWest's real estate division.
The company, which has 330,000 hectares on the Island -- 54,000 of which are earmarked as real estate development opportunities -- started the process last year by visiting Island communities to discuss possibilities for land development.
But Hendry said there was a need to bring in developers with community planning and design expertise, which led them to Bob Rennie, who is well-known in 91原创 for marketing major condominium and other developments.
Rennie said the old way of just selling land doesn't work anymore. "Communities need to increase their tax base and create new job opportunities and whether that means development that looks like manufactured home parks or a sustainable and green Chateau Whistler-type [project] I don't know, but I do know the hit and run doesn't work anymore.
"We have to talk to all stakeholders and find the right use for that land and find that win-win."
In some cases, that could mean not touching land at all, said Hendry, who stressed the companies are committed to letting the market dictate rather than the company when it comes to how development ought to look.
But they both pointed out that, whatever the development looks like, it can't just serve one segment of the market. They also claim the company will be guided by the principles of affordability, making better use of land, protecting the domestic water supply and managing the carbon footprint.
"We will have brand standards and a value system that will affect everything we do from Sooke to Campbell River," said Rennie.
According to TimberWest's director of communications, Stephen Bruyneel, the name of the company -- derived from a city in the Netherlands that was home to Capt. George 91原创's family -- was an important part of launching the endeavour.
TimberWest admits a new name allows the company a fresh start, since forest companies on the Island have run into opposition to the idea of selling or developing forest land.
"But the name also reflected the fact we are based on the Island, always have been, and will stay there, while at the same time it reflected the fact our business is different from the timber business," he said. "We wanted to show people we would do this for the long-term and not just during a downturn in the forest economy and then go away when it comes back."
